Deputy Minister Nguyen The Phuong works with Vice President of the Asian Infrastructure Investment Bank

(MPI) – On January 18th 2016, at the headquarters of the MPI, Deputy Minister Nguyen The Phuong had a meeting with Mr. D.J. Pandian, Vice President and Chief Investment Officer of the Asian Infrastructure Investment Bank (AIIB) on the occasion of his visit and work in Vietnam.

Deputy Minister Nguyen The Phuong and Vice President of AIIB D.J. Pandian at the meeting.
Photo: Duc Trung (MPI)

Speaking at the meeting, the Vice President said AIIB is an international financial institution that aims to support the building of infrastructure in the Asia-Pacific region, gained support from 37 regional and 20 non-regional prospective founding members. In 2016, AIIB approved the portfolio including 9 projects in regional countries with total investment capital of US$ 1.7 billion. In 2017, AIIB will focus on investment in East South Asia region, particularly Vietnam, Laos and Myanmar, raising total investment capital to US$ 2.5 billion. Within the last visit of General Secretary of the Communist Party of Vietnam Nguyen Phu Trong in People’s Republic of China, AIIB committed to invest and develop infrastructural system of Vietnam.

Welcoming the first time AIIB’s delegation visiting and working in Vietnam, Deputy Minister Nguyen The Phuong said that Vietnam is one of founding members of AIIB with many demands on infrastructural development, both transportation and energy. GDP per capita in Vietnam was recorded at approximately US$ 2,200 in 2016, which is low middle income, GDP growth did not reach the goal set forth because global public debt and natural disasters have impacted to effective mobilization of investment resources.

At the meeting, the Deputy Minister recommended large infrastructural projects of Vietnam to invest, such as: North – South high speed railway, Long Thanh international airport, seaport expansion projects, thermal power and renewable energy projects… He also desired AIIB to support the priority fields Vietnam provide and committed to effectively use loans of AIIB in particular and capital resources of donors in general for development of infrastructure system of Vietnam./.